$779,000 GREY

1044 Fircrest Rd, Elphinstone

6 bd · 2.0 ba · 2,031 sqft · 8,030 sqft lot · built 1978 · 16 DOM · MLS R3164663

Has suite Oil-tank era

Redfin ↗

Listing: Redfin search · fetched 2026-09-27T19:15

Description

Family home in Gibsons with detached shop! This lovely 6 bed, 2 bath home sits on a sunny 0.18 acre lot close to all of the amenities including schools and bus stops. Upstairs boasts a bright and open living space that opens up to a huge back deck, perfect to enjoy all summer long. 3 spacious bedrooms on the main level with lots of natural light. On the lower level you will find a 3 bedroom suite, great for a mortgage helper. The detached shop boasts a brand new metal roof and endless potential- Could be a workshop? art studio? home gym? Nice, quiet street, and just a short walk to trails. This one will not last long, book your viewing today!

From listing remarks (Royal LePage Sussex)

Rating 48 /100

Equity	10.3/40	-40,305 vs limit (-4.3% of ARV)
Cash flow	30.0/30	+938/mo
Suite-arb	8.2/15	suite exists — value already in the rent
Motivation	0.0/15	21d on market, no cuts — anchored seller

Offer case

GREEN at $563,000 — that's $216,000 (27.7%) below the $779,000 ask. Long shot

That discount is 11.8× what this market normally concedes.

EVIDENCE

Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
Only 21 days on market — too fresh for a big discount.
Already asking below the $548/sqft local sold level — little room to push.
ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.

Support score 0.0 — evidence weight that this seller would entertain the discount. Not a prediction; a checklist with numbers.

The four tests

Equity — FAIL

(price + $40,000 reno + PTT+legal closing) <= 85% x ARV

all-in = $779,000 + $40,000 + $16,080 = $835,080 ARV = $935,029 → limit = 85% × ARV = $794,775 margin = $-40,305 · at band low ($724,332): $-219,398 — GREEN needs this ≥ 0

Rent — PASS

est. rent >= 0.40% x ARV

est. rent = $5,675/mo (main dwelling (5bd) $3,400 + suite (suite_2bed) $2,275) floor = 0.4% × ARV $935,029 = $3,740/mo rents table: Elphinstone · as of 2026-08-02

Cash flow — PASS

rent - carrying >= -800/mo (PM-managed, typical rent, at ask)

payment $3,121 (loan $623,200 @ 4.4%/30y) + tax $323 (mls) + ins $158 + maint $284 + vac $340 + PM $511 carrying = $4,737/mo · rent $5,675 → cash flow = $938/mo (floor $-800)

Suite-arb — N/A — SUITE ALREADY EXISTS

Arb = adding a suite the price doesn't reflect. This one has its suite — the income is already counted in the Rent and Cash-flow tests instead.

zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median

zone RU1 suite:yes · sqft 2,031 (min 1,900) suite language: yes · $/sqft 384 vs median 513

Scored 2026-10-02T05:55 · thresholds from criteria.yaml

Cash-flow scenarios $/mo · hover a cell for carrying cost

Price	$5,675 typical self-managed	$5,675 typical PM	$6,400 high self-managed	$6,400 high PM
$779,000	+$1,448	+$938	+$2,094	+$1,518
$740,050 −5.0%	+$1,604	+$1,094	+$2,250	+$1,674
$712,785 −8.5%	+$1,714	+$1,203	+$2,359	+$1,783

Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml

Comps & ARV

ARV $935,029 range $724,332 – $1,058,309 (about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low ($/sqft used: 493)

Cross-check: comps say $1,001,283, BC Assessment × sale ratio says $780,436 (+28% apart — disagreement this large triples comp error historically)

Sold	Dist	Sqft	Price	$/sqft	Date	Reno
522 Eaglecrest Dr	0.98 km	2,375	~$1,171,679	493	2026-01-09	✓
143 Pratt Rd	1.1 km	2,223	~$795,766	358	2025-11-05	✓
617 Gower Point Rd	1.15 km	2,003	~$799,672	399	2026-01-16	✓
561 Spyglass Pl	1.2 km	1,962	~$1,170,704	597	2025-11-13	✓
107 Mahan Rd	1.27 km	2,423	~$1,932,296	797	2026-02-17	✓
565 Wildwood Cres	1.32 km	2,221	~$1,170,704	527	2026-01-08	✓
962 Cemetery Rd	2.19 km	1,916	~$1,049,630	548	2025-11-28	✓
1453 Davidson Rd	5.28 km	2,016	~$844,586	419	2026-01-02	✓
~ = final list price × measured sale ratio (BC title registration lags ~3 years, so recent solds have no registered price; the proxy is within ~2% of the registered price when both exist)

Solds from Redfin sold-search + public-records sale prices (belowTheFold)

Price & sale history

Seller basis: $330,000, 2015-06-01 — asking +136.1%

2026-09-12	new	779000 first seen at $779,000
2026-09-11	Listed	$779,000 GVR
2015-06-01	Sold (Public Records)	$330,000 Public Records
2015-03-06	Listed	$339,000 GVR
2007-08-20	Sold (Public Records)	$360,000 Public Records
2007-04-15	Listed	$369,900 GVR

History: Redfin belowTheFold · fetched 2026-09-27T19:15 · events observed by Coastwatch

Zoning & land

RU1 — Rural One suite OK

Areas B/D/E/F: suite permitted (single-unit dwelling zone), and a second single-unit dwelling or auxiliary dwelling unit at 3500 m2 in Areas B/D/E or 0.8 ha in Area F — the lot-area trigger is the whole game for the SECOND dwelling, not for the suite. Area A: no suite right; over 3500 m2 gets a duplex second unit OR one auxiliary dwelling unit, over 8000 m2 a second single-unit dwelling. Sechelt RU-1: secondary suite is a listed accessory use, detached accessory dwelling unit at 2000 m2, two dwellings at 1 ha. [Bylaw 722.9 s.7.9.2, s.7.9.4, s.5.24; Bylaw 337 s.1011.1; Bylaw 580 s.1.9.2-1.9.4]

PID	005-118-247
Parcel	1044 FIRCREST RD (SCRD)
Wastewater	none mapped — septic likely (no suite carve-out)
Water	Chapman system
Fire protection	Gibsons/West Howe Sound FPA
Bylaw	https://www.scrd.ca/zoning-bylaws/

SCRD Planning_ZoningLanduse · fetched 2026-09-12T07:16 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total	$782,000
Land / improvements	$526,000 / $256,000 (67% land — the higher, the more the value is in the dirt)
Assessed / ask	1.0 asking under assessment
BCA folio	746.00108.040

BC Assessment via SCRD parcel layer · fetched 2026-09-12T07:16

Open questions

Is the suite authorized? Ask for permits and final inspection sign-off.
Built 1978 — oil-tank era. Ask for a tank scan or decommissioning certificate.